4.7 Unemployment
2 hours ago
deanhoss
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12 QuestionsShow answers
  • Question 1
    30 seconds
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    Q.

    If an economy is at its Natural Rate of Unemployment...

    answer choices

    Only Cyclical Unemployment would be present

    There would be no frictional unemployment

    Only frictional and structural unemployment would be present

    Everyone is working Everyone is working

  • Question 2
    30 seconds
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    Q.

    A labor force of 20 million people has 18.5 million people employed. Find the unemployment rate.

    answer choices

    10%

    8.5%

    7.5%

    6%

  • Question 3
    30 seconds
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    Q.

    Discouraged workers in

    the economy implies that the measurement of unemployment...

    answer choices

    understates the true unemployment rate

    overstates the true unemployment rate

    correctly measures the true unemployment rate

    doubles the unemployment rate

  • Question 4
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    Q.

    If operators are fired and replaced with computer technology, the operators would be considered

    answer choices

    frictionally unemployed

    structurally unemployed

    cyclically unemployed

    dissatisfiededly unemployed dissatisfiededly unemployed

  • Question 5
    30 seconds
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    Q.

    Which of the following statements is true of an economy at its "natural

    rate of unemployment"?

    answer choices

    Everyone who wants to work is working

    The economy is producing at its potential

    The economy is only experiencing cyclical unemployment

    The economy is producing beyond the PPF The economy is producing beyond the PPF

  • Question 6
    30 seconds
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    Q.

    If actual GDP is less than potential GDP...

    answer choices

    Actual unemployment exceeds the natural unemployment rate

    Actual unemployment rate is less than the natural rate

    No cyclical unemployment is present

    Hyperinflation is present Hyperinflation is present

  • Question 7
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    Q.

    Cyclical unemployment

    answer choices

    Describes recent college graduates

    Lasts longer than 6 months

    Describes employees moving from one job to another

    Increases inflation Increases inflation

  • Question 8
    30 seconds
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    Q.

    The unemployment rate is the ratio of

    answer choices

    unemployed to labor force

    employed to labor force

    seeking employment to labor force

    dissatisfied to labor force

  • Question 9
    30 seconds
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    Q.

    Seasonal unemployment

    answer choices

    Describes recent college graduates

    Is predictable

    Is a result of changes in technology

    Slows the economy Slows the economy

  • Question 10
    30 seconds
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    Q.

    The unemployment rate will drop if

    answer choices

    A person is hired into a new job

    Someone who was previously laid off is rehired

    An unemployed person stops looking

    ALL of these answers are CORRECT

  • Question 11
    30 seconds
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    Q.

    The natural rate of unemployment is equal to

    answer choices

    frictional plus cyclical

    cyclical plus structural

    frictional plus seasonal

    structural plus frictional

  • Question 12
    30 seconds
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    Q.

    Which of these people is officially unemployed

    answer choices

    A secretary who took 6 months off for maternity leave

    An aspiring actress who waits tables but would rather act

    Maid who got fired and will start a new job in 2 weeks

    A student who only works 4 hours a week in the library

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